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Ashley River Commons 1 FOR SALE Final Phases of Project Available for Purchase $4,500,000 Deep Water Townhouse Development On the Historic Ashley River Charleston County North Charleston, SC Ashley River Ashley River Ashley River Ashley River Commons Commons Commons Commons Sandstone Group Steve Sanders 704-849-2335 [email protected] The Closest New Home Waterfront Community to South Carolina’s New Boeing Facility

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Page 1: Ashley RiverAshley River Commons - LoopNet · 2016. 3. 29. · Ashley River Commons 4 Sandstone Group Steve Sanders — 704-849-2335 — ssanders@sandstonegroup.com Economic Activity

Ashley River Commons 1

FOR SALE Final Phases of Project Available for Purchase

$4,500,000

Deep Water

Townhouse Development

On the Historic Ashley River

Charleston County

North Charleston, SC

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CommonsCommonsCommonsCommons

Sandstone Group Steve Sanders — 704-849-2335 — [email protected]

The Closest New Home Waterfront Community

to South Carolina’s New Boeing Facility

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Sandstone Group Steve Sanders — 704-849-2335 — [email protected]

A shley River Commons shley River Commons shley River Commons shley River Commons is a suc-cessful and vibrant townhome commu-

nity located on the banks of the historic and deep water Ashley River in North Charles-ton, South Carolina. The community in-cludes two and three bedroom townhomes in a wooded lowcountry setting along the marsh and the river and provides its residents with unique access to the water and the vari-ous benefits of the amenities associated with the River Club facility. Over 80 townhomes

are occupied now, having sold out quickly in the initial phases, and the remainder of the Project is available for purchase and development. This Brochure describes the offered part of the Project in further detail.

The portion of the Project that is available for purchase includes 18 completed townhomes, 16 constructed building pads for new townhomes with all infrastructure installed and a fully-entitled final phase for at least 42 additional townhome units (including some infrastructure and improvements), when added to the existing sold units the total would complete the community at about 160 townhomes. Excluding the land under the existing 18 townhomes that are available in Phase 2A, over 5 acres of high ground is included for the new planned townhome sites that are being sold.

The Project includes access to the "River Club," a unique amenity available for all residents of Ashley River Commons (including those living in the proposed new units). The River Club offers a clubhouse with pool and tennis courts, a playground, a boat ramp and dock on the Ashley River and other amenities for boating and outdoor enthusiasts. It is significant that it is now uncommon (if not almost impossible) to have a boat dock and boat landing for a new community on this historic portion of the Ash-ley River, and Ashley River Commons was able to provide this benefit because the current club and boating facilities were in place before development restrictions were imposed on the river. No further investment is necessary in connec-tion with the River Club amenity: The club recently has been upgraded, all of its improvements have been fully paid for and the facility now is supported by the existing Property Owner’s Associations.

The Ashley River Commons Property Owner’s Association already is self-sustaining, and each homeowner at this time pays a fee that provides their unit with property insurance, landscape maintenance, building maintenance, termite treatment, member privileges at the River Club and other benefits.

The development is in a beautiful setting and a convenient location. The attractively landscaped grounds are graced with majestic live oak trees draped in Spanish Moss and highlighted by tranquil ponds, all lo-cated across the river from the historic Drayton Hall Plantation in a natural and sparsely developed portion of the river. The community is in close proximity to downtown Charleston, Charleston International Air-port, as well as the economic growth from the aeronautic facilities related to Boeing’s new 787 Dreamliner. Ashley River Commons is ideally situated, being the closest new home waterfront community to the new Boeing North Charleston facility (which will bring thousands of new jobs to the area near the community).

Project Overview

• Available at $4,500,000 • 18 Existing Townhome Units • Bldg Pads for 16 units in Place (~1 acre; infrastructure done) • 42 More Approved Units (on ~4 acres; infrastructure started) • Closest New Home Waterfront Community to Boeing Site

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Sandstone Group Steve Sanders — 704-849-2335 — [email protected]

Description of the Real Estate

T he property that is being sold is located in the prime location in the community: In close proximity to the river, the nearby marsh, the riverside walking trails and the River Club amenities. An inven-

tory of the real estate for this Project is attached.

Phase 2A • 18 Finished Townhomes: All 18 included townhome units have received certificates of occupancy

and are ready to be leased or sold (4 are end units). Currently about 12 units are being leased. The 18 units are in 4 buildings (a total of 30 units, 12 of which have already sold).

• Building Pads for 16 Units: Two separate building pads, with 8 units each, have been built and are

ready for vertical construction. Water, sewer, stormwater and fronting roadway have been built for these units, so no additional infrastructure planning, time or expense is required to start building and selling/occupying these units. The building pad sites total approximately 1 acre.

Phase 2B • Final Phase/Fully Entitled: Phase 2B is the final phase for the Project, and includes approximately 4

acres of buildable land. The sale would include the current approved site plan for 42 additional town-home units in 6 buildings. The plans for this portion of the Project site already have been approved by the municipalities, some infrastructure already has been installed and some items have been paid in advance (saving time, effort and money), including:

• Roadway has been cut and graded • Stormwater culverts and piping have been installed • Sewer main is located in this portion of the site • Approval has been received for building heights

• Expansion Possibilities: Project engineers have confirmed with the county that it is possible to add more units to Phase 2B under the current zoning. The county has indicated that, if the layout does not change significantly, no city council review would be required to increase the number of units within reason.

Additional Land Additional land at the site that may be part of the sale includes some buffers and approximately 21 acres of marshland.

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Economic Activity

A shley River Commons is located in the middle of what is becoming one of the most economi-cally vibrant locations in the Charleston metropolitan area, if not all of South Carolina. The

North Charleston corridor near Ashley River Commons and the Charleston International Airport has become a hub for new aeronautics industry and is in position to feel the positive impacts of the large employers that are continuing to locate and grow in the area. Ashley River Commons is one of the closest new home communities to these facilities (see attachments for information about Boeing and Joint Base Charleston).

Boeing

On October 28, 2009 Boeing announced that it chose North Charles-ton as the site of its newest assembly plant for its 787 Dreamliner air-craft, at the Charleston International Airport complex on S. Aviation Avenue near Ashley River Commons. Boeing chose North Charleston over the Seattle area, and will bring over 3,800 jobs to the immediate vicinity of Ashley River Commons (even more jobs will be created because of suppliers and service companies working with Boeing). Boeing already has a large presence in the area: Earlier in 2009 it acquired the North Charleston facility of Vought Air-craft and in 2008 it acquired half of Global Aeronautica’s facility that is located directly across from Vought. Currently almost 75% of the Dreamliner’s fuselage is built at these North Charleston facili-ties. Construction on the massive new assembly facility is set to begin by the end of 2009, and hiring may begin even sooner, all in preparation for producing aircraft at the facility by 2011.

Joint Base Charleston

In October 2010, Joint Base Charleston will officially take effect, completing the monumental project of combining much of the operations of the Charleston Na-val Weapons Station into the existing Charleston Air Force Base in North Charleston, adjacent to the Charleston International Airport and very close to Ashley River Commons. It is anticipated that there will be an increase in military

and civilian positions at the Air Force Base which is taking the lead position in the relationship.

Transportation

Ashley River Commons is located within a short drive of the Charleston International Airport, Inter-state 26 and Intrastate 526. In addition it is an easy boat ride from Ashley River Commons to his-toric Charleston Harbor and the Atlantic Ocean.

New School

Charleston County’s newest school is opening Fall 2009 adjacent to the Ashley River Commons site along Dorchester Road. The Jerry Zucker Middle School of Science is a state of the art facility that has an emphasis on the sciences, and shows local leaders’ commitment to and confidence in the con-tinued economic growth of this part of the county.

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List of Attachments

Site Map for Phase 2 (with Highlighted Units and Land)

Property Inventory

Floor Plan Examples

Information about Boeing

Information about Joint Base Charleston

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Site Map for Phase 2

Available Property Highlighted in Dark Blue

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Sandstone Group Steve Sanders — 704-849-2335 — [email protected]

Property Inventory

While efforts were made to ensure the accuracy of all data and other information included in this brochure, all information should be inde-

pendently confirmed by any prospective buyer.

Property Tax ID Approximate

Size Additional Description

4602 N. Palm View 406-1000-235 2000 hsf 3BR/3.5BA

4604 N. Palm View 406-1000-234 1800 hsf 2BR/2.5BA

4606 N. Palm View 406-1000-233 1800 hsf 2BR/2.5BA

4608 N. Palm View 406-1000-232 2000 hsf 3BR/3.5BA

4616 N. Palm View 406-1000-231 1800 hsf 2BR/2.5BA

4618 N. Palm View 406-1000-230 1800 hsf 2BR/2.5BA

4620 N. Palm View 406-1000-229 2000 hsf 3BR/3.5BA

4622 N. Palm View 406-1000-228 2000 hsf 3BR/3.5BA

4628 N. Palm View 406-1000-225 2000 hsf 3BR/3.5BA

4630 N. Palm View 406-1000-206 1800 hsf 2BR/2.5BA

4636 N. Palm View 406-1000-217 1800 hsf 3BR/3.5BA

4638 N. Palm View 406-1000-216 1800 hsf 3BR/3.5BA

4642 N. Palm View 406-1000-214 2000 hsf 2BR/2.5BA

4644 N. Palm View 406-1000-213 2000 hsf 2BR/2.5BA

4646 N. Palm View 406-1000-212 2000 hsf 2BR/2.5BA

4648 N. Palm View 406-1000-211 1800 hsf 3BR/3.5BA

6465 W. Palm View 406-1000-220 2000 hsf 2BR/2.5BA

6471 W. Palm View 406-1000-208 1800 hsf 2BR/2.5BA

West Bldg Pad (Phase 2A) 406-1000-204 .58 acres Ready for 8 new units

East Bldg Pad (Phase 2A) 406-1000-203 .45 acres Ready for 8 new units

Phase 2B Land 406-1000-061 4.03 acres Fully-entitled for 42+ units

Marshland 406-0000-012 21.5 acres Tax Donation potential

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Sandstone Group Steve Sanders — 704-849-2335 — [email protected]

Floor Plan Examples

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Information About Boeing

The October 28, 2009 announcement by Boeing that it would locate its newest 787 Dreamliner assembly plant in North Charleston was an enormous economic coup for the area, with a promise of adding at least 3,800 jobs by Boeing alone. Ash-ley River Commons has the good fortune of being the closest new home waterfront community to the Boeing facility. Ashley River Commons is located only about one half mile up Dorchester Road from the Michaux Parkway entrance to the Charleston International Airport complex, where the new Boeing facility is located.. From there it is just a short drive on the

airport road system to the gates of the Boeing facility on South Aviation Avenue.

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Ashley River Commons Location

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Sandstone Group Steve Sanders — 704-849-2335 — [email protected]

Information About Boeing

The following are excerpts from recent news articles about North Charleston’s new Boeing facility (see The Post & Courier

and The State newspapers for complete coverage):

Boeing lands in North Charleston

By John McDermott, Yvonne Wenger, The Post and Courier, October 28, 2009

North Charleston will be home to a new Boeing 787 jet assembly plant, ending a hotly sought-after deal that thrusts the

state into the front lines of aircraft manufacturing.

North Charleston won the fiercely fought battle for a Boeing 787 aircraft assembly plant Wednesday, thrusting South

Carolina onto the world stage of aircraft manufacturing.

The Boeing Co. will build the new line at its Charleston International Airport property instead of Everett, Wash., the

nation’s aviation nerve center and longtime home of the company’s commercial airplane business.

The decision was announced after state lawmakers wrapped up a two-day special session in which they approved a rich basket of financial incentives for Boeing valued at $450 million by state Sen. Hugh Leatherman, a Florence Republi-

can who heads the Senate Finance Committee.

The aerospace giant would have to create at least 3,800 jobs and invest more than $750 million within seven years to

take advantage of the various inducements.

Tim Coyle, vice president of Boeing Charleston, said the company plans to break ground on the 584,000-square-foot expansion near its existing factory within the next few weeks. Work on the first locally made 787 Dreamliner is ex-

pected to begin in 2011…..

Boeing jobs: Suppliers likely to relocate -‘A good start to an aerospace cluster'

By Andrew Shain, The State, November 1, 2009

COLUMBIA — Thousands of jobs are expected in the vapor trail that follows the arrival of a new Boeing assembly

plant in North Charleston.

Because the Chicago-based aircraft maker keeps a lean inventory, industry experts said suppliers will need to locate in

South Carolina for fast shipments.

'You'll get a good start to an aerospace cluster,' said Scott Hamilton, a Seattle-area aviation-industry analyst….

South Carolina already is home to nearly 80 Boeing suppliers and vendors, according to its corporate Web site.

Despite making the 787's rear fuselage plant in North Charleston, many of the suppliers listed said they do not work on

the Dreamliner, suggesting opportunities for companies to come to support the new assembly line.

The line is expected to employ 3,800 by the middle of the next decade, but its arrival has sparked talk of attracting the

number of total jobs created by state's other major big economic-development coup of the past 20 years, BMW.

Since picking a manufacturing site in Greer, the German automaker supports 23,050 jobs in the state — though it em-ploys just about 5,000 at the plant, according to a study released last year by University of South Carolina economic

researchers…..

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This is Bigger than Big By Ken Burger, The Post and Courier, October 29, 2009

….If you've been around South Carolina for any length of time you know what a difference BMW made to the econ-

omy of the Upstate when it arrived 15 years ago.

This [Boeing] is even bigger.

It is, in fact, the final economic equalizer to the loss we suffered in the early 1990s when we lost the local Navy base and shipyard. Many people thought that was the end of the world. Turns out it was a wake-up call for a dependent population. Since then we've managed to diversify and actually strengthen our viability. Not only have we seen a boom in high-tech defense industry jobs, we've become a comfortable place for the computer generation to put down

roots and prosper.

What we don't have, however, is a corporate sugar daddy, the kind that gives a community financial support on a high and continuous basis. This announcement changes that, overnight…. This deal is so huge, in fact, it will impact people

in all walks of life.

...Many of these new jobs will require sophisticated skills and attract workers from other parts of the country, like

maybe Seattle, where Boeing is no doubt being booed for pulling out after a long, contentious fight with the unions.

[North Charleston Mayor] Summey Foresees Booming Future

Mayor says spin-offs will add to number of jobs By Warren Wise, The Post and Courier, October 29, 2009

The city of North Charleston can now claim one of the biggest economic prizes in the state's history, and Mayor Keith

Summey calls it far-reaching….

"This means a very strong economic boom for the Lowcountry," he said. "There will be not only a lot of new jobs for the Charleston area but for the Lowcountry as a whole. And not just from Boeing, but from the spin-off industries it

will bring, as well."

...Boeing already has applied for permits to build a new factory on 82 wooded acres off South Aviation Avenue that

have to be cleared for the new plant.

"We could break ground as early as next month," Boeing spokeswoman Candy Eslinger said. "Our goal is to have the

site up and running in July of 2011. We anticipate the first airplane will be delivered the first quarter of 2012."

Boeing: 'Hiring in the thousands'

Details not available yet, but open slots are estimated to be about 3,800 By Katy Stech, The Post and Courier, October 29, 2009

Piecing together Boeing Co.'s 787 Dreamliner airplane is a task that will require thousands of local workers. And throughout the economic recession, the number of out-of-work South Carolinians who have manufacturing skills but

can't find a job has swelled.

While the facility won't open until July 2011, company officials will begin training workers well before that point, lo-

cal Boeing spokeswoman Candy Eslinger said.

Tim Coyle, vice president of Boeing Charleston, would not say how many hires will be local residents, but said the

labor force should include a "fair amount" of employees from Charleston and from other areas.

Boeing already employs about 900 workers locally, while the neighboring Global Aeronautica plant employs about

1,600 workers.

The new Boeing facility will need engineering positions such as assembly mechanics and quality inspectors, in addi-

tion to administrative staff….

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Sandstone Group Steve Sanders — 704-849-2335 — [email protected]

Information About Joint Base Charleston

Naval Weapons Station to Join with Air Force Base South Carolina Radio Network, by William Christopher, June 19, 2009

Charleston’s Naval Weapons Station is in the process of “marrying” (that is, permanently joining with) its neighbor, the Charleston Air Force Base. The Naval Weapons Station is the primary shipper of military equipment to the wars in

Iraq and Afghanistan.

Captain Glen Little Commands the Weapons Station. He says sure, it’s a big change. “It is a big change, but it’s pro-ceeding smoothly to the benefit of the Charleston area and the state. We’ll become Joint Base Charleston, tighter en-

twined, and what we refer to as Team Charleston.

Commander Little says the installations are separated by nine miles geographically but that won’t stop them from working together. “But we will combine services and command structure. All the different missions will continue. I

have more than 40 mission tenants at the Station alone which perform various missions.”

Little says the base may soon be the home of an undetermined number of construction jobs as new Defense Depart-

ment funding is used to fortify and enlarge buildings at the station.

Military has $3.5 Billion Impact Locally Charleston Regional Business Journal, By Daily Journal Staff, November 27, 2006

U.S. military operations in Charleston, Dorchester and Berkeley counties account for 29,760 direct jobs and a total annual economic impact of $3.5 billion, according to the 2006 Charleston Area Military Economic Impact Report re-

leased today.

The report was produced by the Charleston Metro Chamber of Commerce’s Center for Business Research and the Cen-

ter for Economic Forecasting at Charleston Southern University.

Although the figures are still below pre-1993 levels, when the military provided 48,000 jobs and a $4.2 billion impact prior to the closure of the Charleston Naval Base and Naval Shipyard facilities, the economic impact of the military

locally has steadily increased over the past decade.

That impact now ranks right behind tourism, which has an annual impact of $5.4 billion, and ahead of the impact of the

Port of Charleston, at $3.3 billion.

Compared to the last study, released in 2003, the region’s military presence has expanded by 9%. The region has 10,965 active duty personnel, 6,170 civilians and 9,537 contractor personnel employed by the military. SPAWAR is the largest facility in the region with 10,008 employees, including 8,482 contractors. Charleston Air Force Base has

6,146 active-duty personnel and reservists and a total of 7,920 total employees, including civilians.

One of the key decisions of the Base Realignment and Closure Act of 2005 was the formation of Joint Base Charleston

through the realignment of management functions of Charleston Naval Weapons Station to Charleston Air Force Base.

“Joint Base Charleston is a true model of transportation, logistics, training and engineering efficiency,” said Peter Wer-timer, chairman of the chamber’s Military/Federal Facilities Policy Council. “The fact that the Charleston Air Force

Base handles over 60 percent of the air cargo going to the Middle East and the Surface Deployment Distribution Com-

mand currently is handling over 40 percent of the sea-lift cargo going to the Middle East clearly helps to demonstrate

the role of Charleston’s facilities in support of the warfighter.”

The study includes all active duty, reserves, civilian and contractor-related payrolls. All employment and payroll infor-mation was collected from each installation. Figures are as of Oct. 1, 2005. Direct employment and payroll includes active-duty, reserves, civilian and contract personnel. Economic impact calculations included only active-duty and

civilian employment and payroll numbers.

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